Copper’s new age: Why India can’t afford to miss out

In this episode of the State of the Economy podcast, businessline’s Subramani Ra Mancombu speaks with Mayur Karmarkar, Managing Director of the International Copper Association, about the future of copper in India’s economy. While copper prices globally are experiencing a bearish phase, India’s domestic demand is on an upward trajectory, driven by construction, infrastructure, and industrial growth. Karmarkar explains that India saw over 1.8 million tonnes of copper usage in the last fiscal year—an 8% increase—and anticipates a similar trend this year. The driving force? Rising capital formation in both private and public sectors, growing electricity needs, and more resource-intensive buildings. The conversation also explores sunrise sectors that are accelerating copper demand. Electric mobility, particularly in EV battery and motor manufacturing, is creating new investment avenues. India has already announced 118 GWh of battery production capacity, and products like EV foils are gaining traction. Karmarkar raises long-term concerns about copper supply security, especially given China’s dominant position in processing and refined copper production. (Host: Subramani Ra Mancombu, Producer: Amitha Rajkumar) About the State of the Economy podcast India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem to set to fire on all cylinders.